Article 353. Preservation of pledge in case of transfer of the right to pledged property to another person.
1. In case of transfer of ownership of the mortgaged property or the right of economic management of the property to the other person as a result of the alienation of this property for compensation or free of charge or as a universal succession, the right of pledge remains valid. The successor of the mortgagor becomes the place of the mortgagor and bears all the obligations of the mortgagor, unless otherwise specified by agreement with the mortgagee. 2. If the property of the mortgagor, which is the subject of the pledge, has been transferred in the order of succession to several persons, each of the legal successors (acquirers of the property) shall bear the consequences of the non-performance of the obligation secured by the pledge in proportion to the transferred property. However, if the subject of the pledge is indivisible or for other reasons remains in the common ownership of the legal successors, they become joint pledgers.
References to other articles of chapter 23. Ensuring the fulfillment of obligations: